Preparation, agenda and time management are the key ingredients to a productivity Board Meeting. All reports mentioned below should be circulated 48 hours prior to the meeting. Here are some ideas on all three.
Agenda
1. Actions from previous meeting.
Preparation: Everyone who was responsible for a completed action prepares a one page sentence summarizing their accomplishment. If action was not
achieved a brief reason is offered with a deadline to complete.
Time Allocated: 10 min
2. Trading Update
Preparation: Circulate a management pack of information containing all significant financial and non financial metrics with actual compared with last year, budget and forecast. A two page report should accompany the pack interpreting the significance of metrics and their consequences good or bad.
Time Allocated: 30 min
3. Major Strategic Projects
Preparation: For all 4 or 5 major projects, circulate a report containing progress achieved since the last meeting, highlighting issues that could derail completion with suggested solutions.
Time Allocated: 20 min
4a. Sales Wins
Preparation: A report of major sales wins by name and sector ,the main issue which caused them to buy and how we will capitalize on the win.
Time Allocated: 15 min
4b. Sales Pipeline
Preparation: A report of all sales pipeline items both full and weighted amounts for all months to the end of the financial year and the rolling 12 month figures highlighting net changes from the previous version. All pipeline items making up > 5% of totals should be named. Reconcile sales achieved plus pipelines to full year forecasts.
Time Allocated: 15 min
5a. Marketing Campaigns – Achieving Success
Preparation: Report all successful campaigns being run since the start of the year in order of ROI% and the $ amounts won. [This will involve some art and science from the CMO as many campaigns may have contributed to wins]
Time Allocated: 15 min
5b. Marketing Campaigns – Not Achieving Success
Preparation: Analysis of major campaigns failing to gain traction and lessons learned.
Time Allocated: 15 min
6. People
Preparation: Report required summarizing staff turnover by department, major hires, major staff engagement events during the period and status of legal issues if any. Report on potential key managers outside of the company who we want to hire and progress made. Summarize future resource requirements and progress made.
Time Allocated: 15 min
7. Innovation
Preparation: A report on major product and service launches, their launch date and progress made since the last meeting.
Time Allocated: 20 min
8. Decisions Needed
Preparation: Background papers circulated by the sponsor of each decision needed with his or her recommended course of action.
Time Allocated: 20 min
9. AOB (Any other business)
Preparation: Circulate short suggestions ahead of the meeting and agree withing the meeting how it will be completed.
Time Allocated: 5 min
This will give you a 3 hour board meeting that covers the ground. I’ve ran board meeings lasting 1 hour, usually trading is going really well and I’ve ran Board meetings that needed a day split into morning and afternoon, in a turnaround situation.
Give me your thoughts in the box below. Previous post covering tips is here.
